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Anthem extends termination date of pending Cigna deal

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Anthem extends termination date of pending Cigna deal

Anthem Inc. has elected to extend the termination date of its merger agreement with Cigna Corp.

The termination date has been extended through and including April 30. The merger agreement set Jan. 31 as the initial termination date, but it also provided for an extension to April 30.

Anthem said it needed more time to consummate the pending merger with Cigna regardless of the outcome of the U.S. Department of Justice's lawsuit that seeks to block the transaction.

In December 2016, Aetna Inc. and Humana Inc. also extended the end date of their pending merger. The two health insurers are also facing a Justice Department lawsuit over their tieup plans.

The Justice Department's lawsuits against the pending mergers center on the argument that they could harm competition in the health insurance market.